Reagan took in more money than any other President so cutting taxes wasn't the problem. The Congress spent 2 dollars for every one he took in.
OT: What is happening at Fox News?
- Thread starter SeanPol355
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Both the president and Congress are ultimately responsible, but the fact is, the deficits went way up under Reagan. He spent a ton of money on defense. Now that plan helped bankrupt the Soviet Union and end the Cold War, so it worked. But it did increase the deficits.
I agree, my point was the tax cuts actually increased revenue, it was the spending.
That was the deal with the devil he made with Tip O'Neil. For every defense expenditure that Reagan wanted he had to agree to a non-defense expenditure that the Democratic congress wanted. The net result was spending $hitloads of money that we didn't really have.
NBD11,
I have no problen with deficits , as long as they are not too large in comparison to GDP.
I think we all run deficits at some points in our lives. Student loans, home mortages, car loans,to start a business, etc. Without deficits, we could hardly ever grow or prosper.
However, as long as we keep our deficits within reason , and do not Over extend ourselves,
deficits are a good thing. As you mentioned, Reagan bringing down the Soviet Union is a perfect example.
The problen with President Obama was indeed , to say " Over extending " is an understatement.
He got our country so far into Debt , that there are not too many ways to pay it back. Of cause, we can always try devaluating the currency ( As Nixon did, by taking us off the gold standard ) ,by creating inflation, and "Easy Money " , but at zero iterest rates, and , in my opinion, an extremely over valued Stock Market, something is going to give, and it could be very painful because all our pensions, IRAs , etc. are all tied into the Stock Market.
President Trump was really dealt a pretty bad hand economically and militarily. The Military must be built back up, the infrastructure must be repared, as evident by the drinking water in Flint, and the Dam in California.
So, the President with the help of Congress, must do a balancing act between, necessary spending, Cutting waste and fraud out of existing Fed. programs, and cutting taxes to create jobs
to grow GMP.
Hopefully, he succeeds because if he doesn't, all Americans are going to suffer more than they
can even begin to imagine.
I have no problen with deficits , as long as they are not too large in comparison to GDP.
I think we all run deficits at some points in our lives. Student loans, home mortages, car loans,to start a business, etc. Without deficits, we could hardly ever grow or prosper.
However, as long as we keep our deficits within reason , and do not Over extend ourselves,
deficits are a good thing. As you mentioned, Reagan bringing down the Soviet Union is a perfect example.
The problen with President Obama was indeed , to say " Over extending " is an understatement.
He got our country so far into Debt , that there are not too many ways to pay it back. Of cause, we can always try devaluating the currency ( As Nixon did, by taking us off the gold standard ) ,by creating inflation, and "Easy Money " , but at zero iterest rates, and , in my opinion, an extremely over valued Stock Market, something is going to give, and it could be very painful because all our pensions, IRAs , etc. are all tied into the Stock Market.
President Trump was really dealt a pretty bad hand economically and militarily. The Military must be built back up, the infrastructure must be repared, as evident by the drinking water in Flint, and the Dam in California.
So, the President with the help of Congress, must do a balancing act between, necessary spending, Cutting waste and fraud out of existing Fed. programs, and cutting taxes to create jobs
to grow GMP.
Hopefully, he succeeds because if he doesn't, all Americans are going to suffer more than they
can even begin to imagine.
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MDB11 - "Trump's no liberal."
I'm happy to agree with your statement if you could just do one thing. Please find ONE example of a conservative holding up the LGBT flag at the RNC and wrapping himself (or herself) in it.
I'll happily agree with you once I have seen that.
I'm happy to agree with your statement if you could just do one thing. Please find ONE example of a conservative holding up the LGBT flag at the RNC and wrapping himself (or herself) in it.
I'll happily agree with you once I have seen that.
He was dealt a bad hand, but it wasn't only Obama's fault. GW Bush gets some blame for that, too, with the Iraq War and the real estate bubble that he presided over. Regardless of who was at fault, the federal debt is now about $20 trillion. And it may go higher early in Trump's term, as he cuts taxes and raises spending to try to stimulate the economy. But hopefully the economy will get jumpstarted eventually, and the tax cuts will pay for themselves.
Well we hv to see if he exceeds or matches the Obama the great deficit hawk and doubles the national debt in 8 yrs.
Can't have it both ways. Congress approved Reagan's tax cut ideas and he signed off on every spending bill Congress passed. They share responsibility, not "Congress spent 2 dollars for every one he took in."
Sorry, didn't mean to imply that. Reagan could have vetoed the budgets submitted. My point was only that the tax cuts help revenue rather than hurt it. I could have been clearer.
Dublin great point , I watched her cry after last nights speech and kept eluding to ILLEGAL immigrants as immigrants , to my family who all immigrated to this beautiful country the right way , SHAME on you Maddow and your ratings are going right into the toilet !!!!!!
That's right out of the lib playbook. They never acknowledge that many illegals broke our laws in their effort to get here.
